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Shares of U.S. Bancorp and TCF Financial Corporation—the state’s largest bank-holding companies—climbed about 17 percent last year.
The hacker group that claimed to have disrupted several national banks’ websites in September appears to have launched a second round of attacks, and Minneapolis-based U.S. Bancorp is once again a victim.
U.S. Bancorp CEO Richard Davis anticipates “substantially lower” revenue growth next year, due to which the company plans to open fewer branches.
Steven Spiegel will replace Brent Moen, who has held the top financial post at Regis for less than two years.
The Minneapolis-based company said that the newly formed credit union will have about $500 million in assets; current Thrivent Financial Bank clients will become member-owners of the credit union.
Separately, the company also opened its first office in Turkey last week.
A new lawsuit reportedly accuses the bank of turning a blind eye to Tom Petters’ fraud; BMO Harris Bank, which acquired M&I, denies the claims.
Northill Capital didn’t reveal the financial terms of the deal but said its investment represents approximately 58 percent of Riverbridge’s equity.
The loan volume declined modestly from the previous year, which was inflated by a temporary government program.
While Minneapolis-based Target was one of the first retailers to oppose a proposed $7.5 billion settlement in a major antitrust dispute involving credit-card processing fees charged to merchants, Eden Prairie-based Supervalu is among those that support it.
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Twin Cities Business is Minnesota’s leading provider of business news, insight, and analysis through a monthly magazine, twice-weekly e-newsletter, daily online news stories, events, and an annual business information guide. Along with our readers, we get to know the personalities of our region’s most influential leaders, exploring the “how” behind their success, strategies, and solutions. We discuss today’s most pressing issues, examine trends and outlooks, and provide the context, perspective, and information leaders have come to depend upon.
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